Remy Samuels reports:
A participant in a retirement plan managed by J.P. Morgan Chase & Co. has initiated legal action against the company following recent reports of a data breach where over 451,000 plan participants’ personal details were exposed,
According to the lawsuit filed in the U.S. District Court for the Southern District of New York on May 3, former Long Island Railroad employee Benjamin Valentine’s personal information—which he entrusted with J.P. Morgan on the mutual understanding that the firm would protect it against disclosure—was “targeted, compromised and unlawfully accessed due to the data breach.”
The personal identifiable information that was exposed included participants’ full names, addresses, payment and deduction amounts and Social Security numbers, the bank confirmed last week when making public news of the breach.
Read more at PlanAdviser.